GMU Economist Alex Tabarrok Joins LBRY

LBRY Inc., the startup employing Bitcoin’s blockchain technology to revolutionize how the world distributes and consumes digital media, has added another renowned advisor to its team.

Economist Alex Tabarrok has joined LBRY as the company’s Economic Advisor. Tabarrok is Bartley J. Madden Chair in Economics at the Mercatus Center at George Mason University and director of The Center for Study of Public Choice at George Mason. He is a well-published author in the field of law and economics and is perhaps best known for his blog Marginal Revolution, a collaboration with fellow GMU economist Tyler Cowen. Tabarrok will provide expert guidance in creating incentives to maximize the utility of the LBRY content marketplace.

LBRY is the first decentralized, open-source, encrypted content distribution service. It allows content producers to connect directly with consumers, bypassing middlemen like Netflix, iTunes, Amazon, and YouTube. LBRY addresses many of the flaws inherent in top-down, centralized content distribution systems, and could fundamentally alter the way we share media.

“LBRY is designing the rules for a new global market that will let suppliers and demanders of information trade more easily, quickly and securely than ever before,” Tabarrok said. “As an economist, the opportunity to help engineer an open, decentralized, incentive-compatible institution with global reach is thrilling!”

His specialties align well with the effort. Tabarrok is a recognized expert in the study of entrepreneurship, the role of structural incentives in the functioning of markets, and patent system reform. These subjects were addressed at length in his most recent book, Launching the Innovation Renaissance.

Tabarrok’s deep understanding of how markets function and his ability to apply timeless economic ideas to new technologies will help move LBRY Inc. forward as it prepares to launch its platform. Tabarrok said:

"Markets were operating for thousands of years before their principles were well understood. Today, we are using those principles to code new markets with the potential to unlock vast sources of wealth."